Eight hundred billion dollars have been lost in the technology sector, with a total complexity of about 266 billion dollars.
These losses are related to the sharp decline in the stocks of companies such as Tesla, Amazon, Microsoft, and Facebook. For instance, Elon Musk lost 88 billion dollars, becoming the most affected billionaire. His company Tesla faced low sales and production problems.
At the same time, Jeff Bezos lost 71 billion dollars due to the drop in Amazon's stock. He remains the richest person on the planet, despite these losses.
According to analysts, this market downturn is related to rising interest rates and investors’ concerns about overheating the market.
"This is a blow to the technology sector, which has shown stable growth over the past year," noted one of the experts.
That said, most experts believe this drop is a temporary phenomenon, and the technology sector will soon recover.
